De Beers to close its lab-grown diamond jewellery brand

UK – De Beers Group has announced the closure of Lightbox, its lab-grown diamond jewellery brand, signalling a strategic retreat from the synthetic jewellery market.

Introduced in 2018 as a disruptor brand with transparent pricing and clear differentiation from natural diamonds, Lightbox will now wind down operations, with De Beers in talks to sell remaining inventory and assets. The closure aligns with De Beers’ Origins Strategy, launched in May 2024, which aims to drive demand for natural diamonds for a new generation of consumers.

Al Cook, CEO of De Beers Group, said: ‘The persistently declining value of lab-grown diamonds in jewellery underscores the growing differentiation between these factory-made products and natural diamonds. Lightbox has helped to highlight the fundamental differences in value between these two categories.’ In our Great Wealth Transfer report, we highlighted that for affluent Gen Z and Millennials, investments and spending now revolve around purpose and impact.

Read more about consumers’ emotional and psychological journeys through the luxury sector in our New Codes of Luxury report.